Better domestic growth prospects have encouraged talent to stay at home. "Hong Kong was able to supply talent in the past because of the economic issues it faced, but that pool has dried up; Singapore is also drying up as is Taiwan," said Duncan Cunningham, Aquent's area manager overseeing Greater China.
With close to half of its Hong Kong business coming from China-based clients, Aquent has opened its first China office this month, relocating Cunningham to Shanghai from the SAR. "From day one, the Hong Kong office has consulted to companies on human resource opportunities and issues in China and client demand has built to the point that it makes sense for us to have a base on the mainland," Cunningham said of the expansion.
While companies in the mainland are facing serious recruitment challenges, he noted that they actually lead the region in terms of investment in staff training and development.
"We are starting to see local talent progress through organisations to junior and mid-management positions, however, the biggest issue in China is still staff retention," he added.
Aquent opens in China as staffing challenge grows
Regional markets that have traditionally supplied China with creative and marketing talent are fast running low on supply, according to human resources consultancy Aquent.
